ES 6-13-17

OK...end of video was trying to say that current overnight high has stopped one Point shy of R2 today at least so far....my bias is to downside as I do not think they are going to run up to the weekly R1 before printing the weekly pivot at 2428, overnight inventory is long .....and the thin area of fridays profile runs from 2429.50 - 2432.50 but the key are to me is really going to be the number at 30.75........that is key test point from up here and will look to shorts at the 32 - 34 edge now in overnight...going to add to this post and make an additional video as I am unsure if my thoughts came across

you would think with a true gap and go we would see the first hour volume stronger than yesterday and friday but it is way off.....this ym / es divergence has us all confused....I sold SPY calls that expire tomorrow....I'd really like to get rid of them today for a profit but if we start coming outside 2437.50 then I will think about closing them ...juts seems like more back and forth day traders again...let's see what happens now as Es goes into R2 again as Ym tries o get out of fridays highs once more

hope u r right...I'm trying to hold....was watching closely as Ym tried to get out of Fridays high and failed again but not convinced that this is it.....could just be more two sided battles between small fry traders like me..........good thing is that volume isn't expanding on the move up so far today which may help us mean revert back down

Originally posted by Avid

Looks like the YM is breaking down now Bruce, and You'll get your 30.50 number. I'm on stand-by

In daltons original book he talks about low time areas...basically the single prints and compares it to a pin hitting a balloon...you can only poke the balloon so many times before it pops.....so I am hoping that we are poking down into this low time spot and soon it will bust and give way....the buyers will step away...it's a great analogy...but lets see if it can work for us today..so far so good

a great example today so far in hindsight as to why gaps in the data alone are high risk trades....u really need context....on closer examination I see gaps now at 33.75 , 37 even and way down at 30.75........this low volume may be playing tricks and giving us more gaps then we can handle , therefore it is so important to have some context or some other reason besides JUST a gap to take a position.......